The Food Network says it will not renew the contract of celebrity chef Paula Deen, days after it was revealed she admitted using racial slurs in the past.

The network said in a news release Friday afternoon that it would not renew Deen's contract when it expires at the end of the month.

Deen has built an empire from her television shows, cookbooks and product endorsements. The Food Network began airing "Paula's Home Cooking" in 2002 and added "Paula's Best Dishes" in 2008.

Deen admitted while being questioned as part of a lawsuit that she had used racial slurs in the past. The network's announcement came just hours after she posted a video online apologizing for her past mistakes.

In the video posted Friday, Deen said she wanted to apologize "for the wrong that I've done" and that she wanted to learn and grow from the incident. Deen also acknowledged that the "inappropriate, hurtful language is totally, totally unacceptable."